Boards are accountable for hiring, supervising and terminating senior management. They also make sure that the company is on track to meet its goals in the long run and that management is performing well. They provide guidance and support to the CEO and ensure compliance with ethical standards and regulatory bodies.

Most boards are focused on the big picture. It’s like a jet that is flying at 30000 feet. A CEO is a lot like the pilot at 22,000 feet, making adjustments as needed.

The primary task of a board is to formulate an overall strategy for the company and then work in a team to implement it. In times of crisis, they can be invaluable. “No CEO is an expert in everything,” says Brotherton. “But the board gives them an elevated, strategic vision and can guide the company through challenging waters.”

The professional networks of board members are among the most valuable contributions they can make. A fellow board member with a strong background in business or industry practice could connect the company with beneficial resources for example, potential strategic partners, investors, and professional advisors.

A successful board member can offer constructive criticism and constructive input to important issues such as investments in the organization and performance evaluations. They can also aid in the creation of policies, program funding formulation, and funding for programs. The chance to improve your management skills and gain credibility in the corporate world could have a profound effect on your career. The chance to create an impressive network of professional contacts can provide opportunities in both the public and private sectors.